BANK INDONESIA REGULATION NUMBER: 6/14/PBI/2004
CONCERNING
ISSUANCE, CIRCULATION, REVOCATION AS LEGAL TENDER, WITHDRAWAL FROM CIRCULATION, AND
DESTRUCTION OF RUPIAH CURRENCY
THE GOVERNOR OF BANK INDONESIA,
Considering : a. whereas one of the functions of Bank Indonesia is to regulate and maintain the smooth operation of the payment system;
b. whereas in implementing the function of regulating and maintaining the smooth operation of the payment system, Bank Indonesia has the power to issue and circulate rupiah currency and to revoke as legal tender, withdraw, and destroy rupiah currency for removal from circulation; c. whereas for the exercise of this function, legal provisions
were previously established on issuance, circulation, revocation as legal tender, withdrawal from circulation, and destruction of rupiah currency;
d. whereas, improvements are needed to the existing provisions for issuance, circulation, revocation as legal tender, withdrawal from circulation, and destruction of rupiah currency;
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e. now therefore it is necessary to issue provisions on issuance, circulation, revocation as legal tender, withdrawal from circulation, and destruction of rupiah currency in a Bank Indonesia Regulation;
In view of : Act Number 23 of 1999 concerning Bank Indonesia (State Gazette of the Republic of Indonesia Number 66 of 1999, Supplement to the State Gazette Number 3843) as amended by Act Number 3 of 2004 concerning Amendment to Act Number 23 of 1999 concerning Bank Indonesia (State Gazette of the Republic of Indonesia Number 7 of 2004, Supplement to the State Gazette Number 4357);
HAS DECREED:
To enact : THE BANK INDONESIA REGULATION CONCERNING ISSUANCE, CIRCULATION, REVOCATION AS LEGAL TENDER, WITHDRAWAL FROM CIRCULATION, AND DESTRUCTION OF RUPIAH CURRENCY
CHAPTER I
GENERAL PROVISIONS Article 1
The terminology used in this Regulation has the following meanings:
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1. “Currency” is rupiah currency.
2. “Bank Notes” are Currency in the form of sheets made of paper or other material.
3. “Coins” are Currency in the form of coins made of aluminum, aluminum bronze, cupronickel, or other material.
4. “Currency Unfit for Circulation” is worn Currency, defective Currency, damaged Currency, and Currency revoked as legal tender and withdrawn from circulation.
5. “Worn Currency” is Currency with physical dimensions unchanged from the original dimensions, but the condition of which has changed by reason of, among others, mold, oil, chemicals, or inscribed markings.
6. “Defective Currency” is printed Currency for which technical specifications do not conform to the specifications prescribed by Bank Indonesia.
7. “Damaged Currency” is Currency with dimensions or physical condition changed from original dimensions, for reasons that include but are not limited to fire damage, hole damage, lost of part, or Currency with physical dimensions are unchanged from original dimensions but damaged by reasons that include but are not limited to tearing, or wrinkled Currency.
8. “Currency Identifying Marks” are the specific identifying marks for each denomination of Currency as stipulated by Bank Indonesia with the purpose of safeguarding the Currency from counterfeiting. These identifying marks may comprise colors, pictures, dimensions, weight, and other specifications prescribed by Bank Indonesia.
9. “Currency Material” is banknote paper, coin metal, or other material including any security features with specifications prescribed by Bank Indonesia and used as material for the production and/or security of Currency.
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10. “Commemorative Currency” is Currency released in a special issue to commemorate a particular event or purpose and having face value that differs from its selling value.
11. “Counterfeit Money” is any object resembling Currency and not having marks of authenticity of Currency prescribed by Bank Indonesia.
CHAPTER II
ISSUANCE OF CURRENCY Article 2
(1) Bank Indonesia shall prescribe Currency type, Currency price, and Currency Identifying Marks for Currency to be issued, and the Currency Material to be used.
(2) In prescribing the Currency Identifying Marks and Currency Material, Bank Indonesia has the power to prescribe the design of the Currency, specifications of the Currency, and specifications of Currency Material.
Article 3
(1) The Types of Currency issued by Bank Indonesia are Bank Notes and Coins. (2) Bank Notes as referred to in paragraph (1) shall bear at least the following
Currency Identifying Marks:
a. picture depicting the national emblem comprising the “Garuda Pancasila”;
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b. the words “Bank Indonesia”;
c. denomination in figures and words representing face value; d. year of issue;
e. serial number;
f. the words “Dewan Gubernur” (Board of Governors), signatures and names of the Governor and a member of the Board of Governors; and g. the words “Dengan Rahmat Tuhan Yang Maha Esa, Bank Indonesia
mengeluarkan uang sebagai alat pembayaran yang sah dengan nilai” (by the Grace of the One and Almighty God, Bank Indonesia hereby issues this currency as legal tender for the amount of).
(3) Coins as referred to in paragraph (1) shall bear at least the following Currency Identifying Marks:
a. picture depicting the national emblem comprising the “Garuda Pancasila”;
b. the words “Bank Indonesia”;
c. denomination in figures and words representing face value; and d. year of issue.
Article 4
(1) Bank Indonesia shall arrange procurement of Currency Material and other services, including the designation of supplier of Currency Material and other services, according to legal provisions as stipulated by Bank Indonesia.
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(2) Bank Indonesia shall designate the currency mint according to the legal provisions stipulated by Bank Indonesia.
(3) Bank Indonesia shall designate the supplier of currency according to the legal provisions stipulated by Bank Indonesia.
Article 5
Bank Indonesia shall prescribe the date at which issued Currency becomes valid as legal tender in the territory of the Republic of Indonesia.
Article 6
Bank Indonesia shall issue duly prescribed Currency as referred to in Article 2 paragraph (1) and Article 5 by means of a Bank Indonesia Regulation.
CHAPTER III
CIRCULATION OF CURRENCY Article 7
(1) Bank Indonesia is the sole agency authorized to place Currency in public circulation.
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(2) Currency shall be placed in public circulation as referred to in paragraph (1) by Bank Indonesia or another party approved by Bank Indonesia.
Article 8
(1) Bank Indonesia shall provide cash services consisting of cash dispensing services, cash deposit services, and cash exchange services.
(2) The cash dispensing services and cash deposit services referred to in paragraph (1) shall be provided for parties holding accounts at Bank Indonesia and other parties approved by Bank Indonesia.
(3) Parties provided with cash deposit services as referred to in paragraph (2) shall sort the Currency to be deposited with Bank Indonesia.
Article 9
(1) Exchange services as referred to in Article 8 paragraph (1) shall be provided to the public for the following:
a. Exchange of Currency fit for circulation for other Currency fit for circulation in the same denomination or another denomination; or
b. Exchange of Currency Unfit for Circulation for Currency fit for circulation in the same denomination or another denomination.
(2) Exchange services as referred to in paragraph (1) may be provided by other parties approved by Bank Indonesia.
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(3) Bank Indonesia shall not provide replacement for Currency that is lost or destroyed for any reason whatsoever.
(4) Bank Indonesia and/or other party approved by Bank Indonesia shall provide replacement for Worn Currency or Defective Currency at face value.
(5) Replacement shall be provided for Worn Currency or Defective Currency as referred to in paragraph (4) insofar as Bank Indonesia and/or other party approved by Bank Indonesia is able to recognize the marks of authenticity of the Currency.
(6) Bank Indonesia and/or other party approved by Bank Indonesia shall provide replacement of Damaged Currency.
(7) The amount of replacement provided for Damaged Currency as referred to in paragraph (6) is stipulated as follows:
a. Bank Notes or Coins:
1) physical Currency greater than half of its original size with Currency Identifying Marks recognizable for their authenticity shall be replaced at face value;
2) no replacement shall be issued for physical Currency equal to or less than half of its original size.
b. Bank Notes made of plastic (polymer):
1) wrinkled but intact physical Currency having Currency Identifying Marks with recognizable authenticity shall be replaced at face value; 2) wrinkled and no longer intact physical Currency having Currency
Identifying Marks with recognizable authenticity shall be replaced as referred to in paragraph (7) letter a;
(8) Replacement of Bank Notes at face value as referred to in paragraph (7) shall be provided if:
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a. Damaged Currency is still intact and has at least one fully intact serial number; or
b. Damaged Currency is no longer intact, but still has both serial numbers and the serial numbers are identical.
(9) Worn Currency or Defective Currency in damaged condition shall be replaced at the value referred to in paragraph (7) insofar as it satisfies the requirements referred to in paragraph (8).
CHAPTER IV
REVOCATION AS LEGAL TENDER AND WITHDRAWAL FROM CIRCULATION
Article 10
(1) Bank Indonesia shall designate Currency no longer valid as legal tender in the territory of the Republic of Indonesia by revoking and withdrawing the Currency from circulation.
(2) Replacement shall be provided for Currency revoked as legal tender and withdrawn from circulation as referred to in paragraph (1).
(3) The amount of replacement of Currency revoked as legal tender and withdrawn from circulation as referred to in paragraph (2) is stipulated as follows:
a. Worn or Defective Currency shall be replaced at face value;
b. Damaged Currency shall be replaced in an amount determined with reference to Article 9 paragraph (7) and in compliance with the requirements referred to in Article 9 paragraph (8).
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(4) Withdrawal of Currency from circulation as referred to in paragraph (1) shall take place by means of exchange with Bank Indonesia or another party appointed by Bank Indonesia.
(5) Currency revoked as legal tender and withdrawn from circulation as referred to in paragraph (1) shall be exchanged within a period of 10 (ten) years commencing from the date of revocation as legal tender.
(6) Any Revocation of Currency as legal tender and withdrawal of Currency from circulation as referred to in paragraph (1) shall be stipulated in a Bank Indonesia Regulation.
CHAPTER V
DESTRUCTION OF CURRENCY Article 11
Bank Indonesia shall perform the destruction of: a. Currency Unfit for Circulation; and
b. Currency still fit for circulation that for certain reasons is no longer economically viable and/or is insufficiently popular with the public.
CHAPTER VI
CURRENCY OF DOUBTFUL AUTHENTICITY Article 12
The public may request clarification from Indonesia in regard to Currency of doubtful authenticity.
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Article 13
(1) Bank Indonesia shall provide replacement for any Currency found to be authentic.
(2) Currency found to be authentic as referred to in paragraph (1) shall be replaced in an amount determined with reference to Article 9 paragraph (4) and paragraph (7) and in compliance with the requirements referred to in Article 9 paragraph (8)
(3) No replacement shall be issued by Bank Indonesia for any Currency found to be counterfeited.
(4) Currency found to be counterfeited as referred to in paragraph (3) shall be subject to legal action.
CHAPTER VII
REPORTING AND COLLABORATION IN ACTION AGAINST COUNTERFEITING
Article 14
Commercial banks are required to report any discoveries of Counterfeit Money to Bank Indonesia.
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Article 15
(1) Bank Indonesia shall provide information and knowledge for the public of the marks of authenticity of Currency.
(2) To provide information and knowledge as referred in paragraph (1), Bank Indonesia may cooperate with other parties.
Article 16
Bank Indonesia may cooperate with the competent agencies in action against Counterfeit Money.
CHAPTER VIII
COMMEMORATIVE CURRENCY Article 17
(1) Bank Indonesia shall issue Commemorative Currency.
(2) Commemorative Currency as referred to in paragraph (1) may be issued by Bank Indonesia at the request of another party.
(3) Bank Indonesia shall charge royalty for Commemorative Currency issued at the request of other parties.
(4) The types of issued Commemorative Currency as referred to in paragraph (1) shall consist of Bank Notes and Coins.
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(5) Bank Notes issued as referred to in paragraph (4) may take the form of uncut sheets of Currency.
(6) Commemorative Currency issued by Bank Indonesia shall be valid as legal tender in the territory of the Republic of Indonesia.
(7) Type of Commemorative Currency, price of Commemorative Currency, and currency identifying marks for Commemorative Currency issued by Bank Indonesia shall be stipulated in a Bank Indonesia Regulation.
(8) Commemorative Currency shall be issued by Bank Indonesia in limited quantities and shall be provided with a certificate.
(9) Commemorative Currency as referred to in paragraph (1) shall be guaranteed by Bank Indonesia at face value.
(10) Commemorative Currency shall be circulated by Bank Indonesia or another party appointed by Bank Indonesia.
CHAPTER IX
SPECIMENS OF CURRENCY Article 18
(1) For each new issue of Bank Notes, Bank Indonesia shall issue and deliver specimens of Bank Notes to commercial banks, central banks of other countries, and other parties approved by Bank Indonesia.
(2) Specimen Bank Notes as referred to in paragraph (1) are not valid as legal tender in the territory of the Republic of Indonesia.
CHAPTER X
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ADMINISTRATIVE SANCTIONS Article 19
Any violation of the provisions referred to in Article 14 shall be liable to administrative sanctions in the form of written warning.
CHAPTER XI
TRANSITIONAL PROVISIONS Article 20
The Implementation Regulations for:
a. Decree of the Management of Bank Indonesia No.13/52/Kep/Dir/UPU dated December 1, 1980, concerning Basic Provisions for Currency Circulation; and
b. Bank Indonesia Regulation No. 2/17/PBI/2000 dated July 20, 2000, concerning Issuance and Circulation, Revocation as Legal Tender, and Withdrawal from Circulation of Rupiah Currency,
are declared to remain valid insofar as they are not replaced and do not contravene this Bank Indonesia Regulation.
CHAPTER XII
CONCLUDING PROVISIONS Article 21
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The provisions for implementation of this Bank Indonesia Regulation shall be stipulated further in a Circular Letter of Bank Indonesia.
Article 22
With the enactment of this Bank Indonesia Regulation:
a. Decree of the Management of Bank Indonesia No. 13/52/Kep/Dir/UPU dated December 1, 1980, concerning Basic Provisions for Currency Circulation;
b. Bank Indonesia Regulation No. 1/12/PBI/1999 dated December 29, 1999, concerning Rupiah Commemorative Currency;
c. Bank Indonesia Regulation No. 2/17/PBI/2000 dated July 20, 2000, concerning Issuance and Circulation, Revocation as Legal Tender, and Withdrawal from Circulation of Rupiah Currency,
are declared no longer valid.
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Article 23
This Bank Indonesia Regulation shall come into force on August 2, 2004.
Enacted in Jakarta Dated: June 22, 2004
THE GOVERNOR OF BANK INDONESIA,
BURHANUDDIN ABDULLAH
STATE GAZETTE OF THE REPUBLIC OF INDONESIA NUMBER 52 OF 2004
ELUCIDATION TO
BANK INDONESIA REGULATION NUMBER: 6/14/PBI/2004
CONCERNING
ISSUANCE, CIRCULATION, REVOCATION AS LEGAL TENDER, WITHDRAWAL FROM CIRCULATION, AND
DESTRUCTION OF RUPIAH CURRENCY
ARTICLE BY ARTICLE Article 1
Self-explanatory Article 2
Paragraph (1)
“Currency price” is defined as face value or the denomination of Currency issued by Bank Indonesia.
Paragraph (2)
Self-explanatory Article 3
Paragraph (1)
Self-explanatory Paragraph (2)
Self-explanatory
Paragraph (3)
Self-explanatory
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Article 4
Paragraph (1)
“Supplier of Currency Material and other services” is defined as a company or other party appointed by Bank Indonesia to provide Currency Material and/or other services.
“Other services” is defined as including but not limited to insurance, freight, and import handling.
Paragraph (2)
“Currency mint” is defined as Perusahaan Umum Percetakan Uang Republik Indonesia (Perum Peruri) or another company appointed by Bank Indonesia to print/mint Currency.
Paragraph (3)
“Supplier of Currency” is defined as a company or other party appointed by Bank Indonesia to supply Currency Material and perform the printing/minting of Currency and other services within the framework of procurement of Currency.
Article 5
Self-explanatory Article 6
This Bank Indonesia Regulation shall stipulate among others the type of Currency, price of Currency, Currency Identifying Marks, and date at which the Currency becomes valid as legal tender.
Article 7
Paragraph (1)
“Circulate Currency” is defined as including but not limited to provision of cash services and dispatch of Currency.
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Paragraph (2)
Self-explanatory Article 8
Paragraph (1)
“Cash dispensing services” is defined as the activity of dispensing of Currency fit for circulation by Bank Indonesia.
“Cash deposit services” is defined as the activity of receipt of Currency by Bank Indonesia.
“Exchange services” is defined as the activity of Bank Indonesia in receiving Currency from the public and providing replacement with Currency fit for circulation in the same denomination or in other denomination.
Paragraph (2)
“Other party” is defined as a party not holding an account at Bank Indonesia but having legal dealings with Bank Indonesia.
Paragraph (3)
“Sorting” is defined as the activity of selecting and setting apart Currency, among others by fitness for circulation, denomination, and year of issue. This activity also includes arrangement of a consistent order in the position of the main picture on the obverse side and reverse side of the Currency.
Article 9
Paragraph (1) Self-explanatory Paragraph (2)
Self-explanatory
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Paragraph (3)
Self-explanatory Paragraph (4)
Self-explanatory Paragraph (5)
Self-explanatory Paragraph (6)
Self-explanatory Paragraph (7)
Letters a and b
In determining replacement, Bank Indonesia has the power to assess the extent of the physical integrity of the money.
Paragraph (8) Letter a
“Intact” is the physical condition of Bank Notes presented by the public not consisting of 2 (two) or more parts.
Letter b
Self-explanatory Paragraph (9)
Self-explanatory
Article 10
Paragraph (1) Self-explanatory Paragraph (2)
Self-explanatory Paragraph (3)
Self-explanatory
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Paragraph (4)
The definition of “other party” includes but is not limited to any company that provides exchange services.
Paragraph (5)
Self-explanatory Paragraph (6)
Self-explanatory Article 11
Letter a
Self-explanatory
Letter b
“No longer economically viable” is defined among others as intrinsic value that exceeds face value.
Article 12
Self-explanatory Article 13
Paragraph (1)
Self-explanatory Paragraph (2)
Self-explanatory Paragraph (3)
Self-explanatory Paragraph (4)
Self-explanatory
Article 14
Self-explanatory
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Article 15
Paragraph (1) Self-explanatory Paragraph (2)
“Other party” is defined as including but not limited to the National Police of the Republic of Indonesia and Interpol.
Article 16
Self-explanatory Article 17
Paragraph (1)
Self-explanatory Paragraph (2)
Self-explanatory Paragraph (3)
Self-explanatory Paragraph (4)
Self-explanatory Paragraph (5)
“Uncut sheets of Currency” is sheets of Currency consisting of no less than 2 (two) Bank Notes and still intact as an integral whole. Paragraph (6)
Self-explanatory Paragraph (7)
Self-explanatory Paragraph (8)
Self-explanatory
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Paragraph (9)
Self-explanatory Paragraph (10)
Self-explanatory Article 18
Paragraph (1)
“Specimen Currency” is defined as a specimen Bank Note marked on one side with the word “Spesimen” (specimen),
“Other party” is defined as including but not limited to the National Police of the Republic of Indonesia.
Paragraph (2)
Self-explanatory Article 19
Self-explanatory Article 20
Self-explanatory Article 21
Self-explanatory Article 22
Self-explanatory Article 23
Self-explanatory
